Halcyon, a pioneering anti-ransomware firm, has recently secured strategic funding from Cisco Investments.
The size of the investment was not disclosed, but Halcyon noted it has raised a total of $90m, to date.
This funding is part of a broader mission to reduce ransomware risks to zero, reinforcing Halcyon’s essential role in the cybersecurity landscape.
Halcyon’s platform is uniquely designed to thwart ransomware from the outset. It employs advanced artificial intelligence and machine learning technologies focused exclusively on ransomware threats. This strategic investment will enable Halcyon to enhance its platform, ensuring robust protection against ransomware attacks that often bypass traditional security measures.
The new funds will be instrumental in scaling the deployment of Halcyon’s anti-ransomware solutions. These funds are intended to drive broader adoption and further development of technologies that can preemptively identify ransomware strains and recover hijacked data instantaneously.
Apart from the recent funding, the announcement included critical insights into the ongoing challenges posed by ransomware. According to Halcyon’s research, a significant number of organizations have been repeatedly victimized by ransomware attacks, leading to substantial business disruptions and data losses. This underscores the growing need for effective solutions like those Halcyon provides.
Janey Hoe, vice president at Cisco Investments, said, “Ransomware has been a perpetual Cybersecurity pain-point for enterprises across the world.
“Halcyon’s deployment of bespoke artificial intelligence models to proactively identify ransomware strains, as well as instantaneous recovery of hijacked data, represents a robust AI enabled response to an endemic problem. We are proud to have Halcyon become a part of our $1B global AI-investment fund, announced earlier this year.”
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